What did Trump say at the White House Crypto Summit?

President Donald Trump told crypto leaders that the era of regulatory crackdown on cryptocurrencies is over, emphasizing that the US will not sell Bitcoin held in the reserve fund.

On March 7, 2025 (US time), the White House held its first-ever Crypto Summit, taking place just hours after President Donald Trump signed an executive order directing the establishment of the Strategic Bitcoin Reserve.

In addition to Trump, the conference was attended by senior officials of the new administration, including Crypto and AI Policy Advisor David Sacks, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, head of the Presidential Advisory Council on Digital Assets Bo Hines, SEC Commissioner Hester Pierce and CFTC Acting Chair Caroline Pham.

Meanwhile, the US crypto industry was represented by leaders of leading companies and projects, including Coinbase, Kraken, Ripple, Gemini, Chainlink, Robinhood, etc.

President Donald Trump delivered an opening speech at the conference, emphasizing that regulatory pressure had been lifted under his administration.

“I know many of you have fought for this for many years, and it is an honor to now be able to sit with you in the White House.”

Mr. Trump pledged to end the “crypto war” that the previous administration had waged over the years, praising the recent regulatory efforts of the authorities.

“The previous administration put pressure on banks. They were required to close the accounts of crypto companies and entrepreneurs, block the ability to deposit and withdraw from exchanges, and abuse their power against the entire industry. I also understand the feeling of encountering the same thing as you. But it will all be over soon because my administration will end Operation Choke Point 2.0.”

The president also said he hopes to sign legislation governing stablecoins before Congress adjourns in August.

“I also want to express my enthusiastic support for the lawmakers in Congress who are working to clarify the legal framework for U.S. dollar-backed stablecoins and the digital asset market. They are working hard. This is a great opportunity to promote economic growth and financial progress and will have a lasting impact.”

Trump also mentioned the new strategic Bitcoin reserve initiative he signed, criticizing the federal government for being “irresponsible” in selling too many seized BTC.

“The U.S. government is one of the largest holders of Bitcoin in the world, with about 200,000 Bitcoins seized from both civil and criminal cases. This amount will be used as the first asset of the reserve fund.

From today, the United States will comply with the regulation that any Bitcoin investor knows, which is never to sell Bitcoin.”

It can be seen that the White House Crypto Summit is just an event for the Trump administration to summarize the changes he has imposed after 2 months in office, without any new announcements. Accordingly, Mr. Trump has appointed many officials with experience and an open attitude towards crypto, reformed two financial regulatory agencies, the SEC and CFTC, asked the SEC to end lawsuits against cryptocurrency companies and accept altcoin ETF registration applications, established an advisory group to plan cryptocurrency policy, and most recently signed a decision to establish a cryptocurrency reserve fund including BTC, ETH, XRP, SOL and ADA coins.

With no new developments, Bitcoin price in the past few hours has only fluctuated around the $86,500 area, down 3% compared to 24 hours ago.